The year, will we hit 24,000 on the dow by christmas . The dow up 41 points at this hour. By the way, more bad p. R. For uber, the new ceo knew about that massive data hack for months before disclosing it. So plenty to go at. If youre at home enjoying that postturkey glow, settle in and buckle up for the next three hours. Varney company is about to begin. Ashley its hard to believe, but black friday may no longer be the hottest shopping day of the year. A new study shows only 35 of consumers plan to do their Holiday Shopping today. Amazingly, thats down 24 from just 2015. Interesting. Lets go to jeff flock. Hes live on chicagos Michigan Avenue. Jeff, i know its a little early, and i was going to say a lot of people out there . I dont see anyone behind you. [laughter] reporter you know, i always look to challenge these surveys because i sometimes think they dont make sense. Well, ive got to tell you, if you look at the magnificent mile right now, ashley, there are not throngs out here,
Back to about roughly a year ago. Just looking at that, from that point on, we have had 1000 point climbs seems every few months. Would be in this case a little more than a month since crossing 23,000. If we cross 24,000, it would be the fifth 1000 point climb in the dow, since this year. Since the president was elected a little over year ago, sixth time weve seen that happen. Appreciable advance, that at this point has a lot to do with tax cuts and optimism they are going to happen. But there is aggressive timeline here that is, has to follow exactly. Chad pergram following that very, very closely. Chad, what can you tell us . Sometime 2 00 this afternoon is when the United States senate will have a vote to proceed to the tax cut bill. They have to vote to get on to the bill. At that point as you said it triggers a 20hour clock of debate. This is under the special process of budget reconciliation. Why is that important . Well, budget reconciliation turns off filibusters. In other word
Morning. Here is a look at those temperatures right now. Look at how cold it is for the north bay and the south county as you get ready to head out. It is colder than yesterday at this time. Well talk about where we are headed today in a few minutes. Mike is seeing flashing lights. Get a warm up on those vocal cords as well. One set of flashing lights. There were a few over 20 minutes. This is 66 over 880 by the coliseum. Thats wrapping up. We look at the map. That was Construction North of high street. We something see traffic breaks, but so far, no slowing there. I take you toward san mateo and tracking this as well. Southbound 101, past 92, a disabled bus is blocking the slow lane and has been there 45 minutes. Im concerned, anytime we have a stalled vehicle off an interchange, the potential for a crash is there. Ill track that. Back to you. Sounds good. Thank you, mike. Developing now, those strong santa ana winds and dry brush fuel the spread of californias wildfires. 27,000 peopl
Should be focused on what is it welcome to power lunch we are in rally mode the nasdaq hit its first record for december the dow jones and the s p 500 on the fourth straight week of gains. Consumer discretionary moving big. Underarmour moving higher. Kohls also. And take a look at the electronic retailer, up more than 50 this year thank you we begin this hour with tax refo reform expected to be agreed torsion signed, eventually unveiled to the public later today we still await the final details of what is in and what is out. Live in washington reporter two sources now confirming to me marco rubio does plan to support the republican tax bill. They put in some lastminute changes to win him over. Namely increasing the refundable portion of the Child Tax Credit. Just about an hour ago, kevin brady who chairs the ways and Means Committee spoke about at the chances of the bills passage, not just through house but also the senate where republicans have a very narrow margin im confident at the
Go down when the markets go down. And private credit. We expect private credit to generate low teens, anywhere from 912 a year, highly cash, meaning most of the 912 is income, that off sets the liquidity, you have cash flow coming in as markets correct downward. We think joe, the movement you have taken to take some money out of equity markets which in the longterm is your highest growth and return asset and spreading it into other assets that have higher returns, at least higher than assumed rate but lower volatility will give you the opportunity to earn that 7. 5 with less risk of a major downturn. The numbers we developed for you that are part of the Asset Allocation assumption did indicate over the longer term, the more diversified portfolio had an expected return of just below 8 . If we take on more leverage, it will be the result of return. Theres leverage in private equity thats sort of normal. Im looking at the gross leverage amount. And probably more a higher gross exposure, b